Other Asia Pacific

Market Infrastructure

Philippines Approves Introductory Rules for Islamic Banking

By Editors | 06/01/2020

The BSP has released guidelines for the establishment of Islamic banks and Islamic banking units in the Philippines, along with a newly-approved Shari’ah governance framework.

Securities / Derivatives

Philippine SEC Approves Implementing Guidelines on Short Selling

By Editors | 06/01/2020

The new implementing guidelines address concerns over the effect of SBL and short selling transactions on trading participants’ books and records, error transactions, and capital adequacy.

Market Infrastructure

BSP Extends Registration Deadline for Payment System Operators

By Editors | 30/12/2019

Existing payment system operators were given until 1 January to register with the BSP. This has been extended to 1 April 2020.

AML / KYC

APAC Wealth Migration Trends Heighten Financial Crime Risk

By Joseph Quiazon | 28/12/2019

APAC regulators are looking to FIs and their technology to guard against increasingly sophisticated criminal activity as wealth migration accelerates, says Joseph Quiazon at Exiger.

Capital / Liquidity

Philippine Bourse Seeks Higher Capital Requirements for Brokers

By Editors | 26/12/2019

In the aftermath of a 700-million-peso stock theft, PSE president Ramon Monzon will reportedly propose to more than triple current capital requirements for older firms.

Market Infrastructure

Indonesia Integrates Nine Bank Reports into Single Mechanism

By Editors | 20/12/2019

The integration aims to minimise redundant and inconsistent information, while simultaneously improving bank operational efficiency and the quality of reported data.

AML / KYC

BSP Probes Ten Banks Linked to Westpac AML Violations

By Editors | 19/12/2019

The banks received funds for their clients through the Bank of the Philippine Islands, which was the local partner of the Westpac money transfer service known as LitePay.

Fintech / Regtech

Cryptoasset Risk in Misalignment with Investor Profiles: OECD

By Editors | 18/12/2019

New OECD research has found a strong likelihood of misalignment between the risk profiles of some financial consumers and the riskiness of cryptoassets.

AML / KYC

Bangladesh Issues Guidelines on Trade-based Money Laundering

By Editors | 17/12/2019

The guidelines require banks to develop written policies and procedures to assess and mitigate money laundering risks arising from their trade-related customers and activities.